It appears that Mayor Antonio Villaraigosa and his henchmen on the City Council have decide that Los Angeles is really, really in trouble this time.
Kind of like Dean Wormers "double secret probation" in the film "Animal House".
The Mayor and the council are declaring a fiscal emergency.
Emergency? They should call it a catastrophe!
The pension fund has a hole of about 20 billion dollars.
The only positive news here is that citizens are free to leave.
And much like the case of Detroit, Michigan....when their local government fails them, they can -- and will -- leave.
Los Angeles faces a massive population exodus in the near future over this criminal mismanagement.